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Elon Musk loses $13 billion in 24 hours after SpaceX rocket explosion and disappointing earnings [View all]
Fortune
Elon Musk loses $13 billion in 24 hours after SpaceX rocket explosion and disappointing Tesla earnings
Chloe Taylor
Fri, April 21, 2023 at 5:18 AM EDT · 4 min read
Elon Musk’s personal fortune took a hit of almost $13 billion on Thursday as the world watched a SpaceX rocket explode while Tesla delivered underwhelming earnings.
According to Bloomberg’s Billionaires Index, which monitors the real-time wealth of the richest people on the planet, Musk’s net worth was depleted of $12.6 billion on Thursday.
Much of Musk’s wealth is derived from shares in Tesla, which tanked nearly 10% on Thursday on the back of a disappointing quarterly earnings report. The plummeting share price erased $58 billion from the company’s market cap.
On Thursday, the company reported net income of $2.51 billion for the first three months of 2023—a year-on-year decline of 24%.
{snip}
Elon Musk loses $13 billion in 24 hours after SpaceX rocket explosion and disappointing Tesla earnings
Chloe Taylor
Fri, April 21, 2023 at 5:18 AM EDT · 4 min read
Elon Musk’s personal fortune took a hit of almost $13 billion on Thursday as the world watched a SpaceX rocket explode while Tesla delivered underwhelming earnings.
According to Bloomberg’s Billionaires Index, which monitors the real-time wealth of the richest people on the planet, Musk’s net worth was depleted of $12.6 billion on Thursday.
Much of Musk’s wealth is derived from shares in Tesla, which tanked nearly 10% on Thursday on the back of a disappointing quarterly earnings report. The plummeting share price erased $58 billion from the company’s market cap.
On Thursday, the company reported net income of $2.51 billion for the first three months of 2023—a year-on-year decline of 24%.
{snip}
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